Federal Finance Minister Senator Shaukat Tarin said on Friday that PTI government had introduced various initiatives for inclusive and sustainable economic growth by focusing on empowering youth/ common man, industrial expansion, increased agricultural yield, institutional reforms, increased revenue collection, broadening of tax base, and narrowing down the import-export gap.
He said that during a recent visit to China, Pakistan had asked the Chinese authorities that it wanted support in four major areas, which would lead to speedy socioeconomic growth. “With your (Chinese) support, we have established infrastructure, connectivity and SEZs (Special Economic Zones).
Now we want you to help us in populating these SEZs,” the all-weather friend was informed. “Help us in agricultural development and research; support us in IT sector development as five Special Technology Zones are being established in Pakistan; and the last but not least, it (China) should help maintain trade balance with Pakistan,” he added.
He expressed these views while addressing a seminar titled ‘Revival of Pakistan’s economy and outlook in 2022’ here at Aiwan-e-Karkunaan-e-Tehrik-e-Pakistan, where Nazria Pakistan Trust Chairman Mian Farooq Altaf delivered the welcome address.
While, Tehrik-e-Pakistan Workers Trust Chairman Justice (retd) Mian Mahboob, SAARC Chamber’s President Iftikhar Ali Malik, Lahore Chamber’s Senior Vice President Rehman Aziz Chan, Vice President Haris Attique, senior journalist Mujeebur Rehman Shami, Millat Group Chairman Sikandar Mustafa, students and people from various walks of life attended the event.
Since inception of Pakistan, the country’s economy had been witnessing ups and downs, and could not achieve economic stability and continuous upward growth due to various reasons, the finance minister said and recalled that Pakistan had been achieving fast economic growth in 1960s due to effective planning and financial management, and its growth rate was double than even South Korea, Saudi Arabia and Thailand.
But in 1970s, the then government took a wrong turn by nationalising the industry, financial and insurance sectors due to which country’s 5 to 6 per cent growth rate had declined gradually. And in 1979, Pakistan took another bad decision of getting into Afghan war that was not ours, and consequently, our socioeconomic fabric was jeopardized.
During 1980s, Pakistan also could not benefit from global economic boom, as there had been martial law here, while Taiwan, Singapore and Hong Kong took advantage of it, he said, asserting that in the second such economic wave, Malaysia, Indonesia and Philippine etc. improved their economies.—APP
